Business news

Fitch affirms Belarus at 'B', outlook stable

MINSK, 18 May (BelTA) – Fitch Ratings has affirmed Belarus' long-term and short-term foreign-currency and local-currency issuer default rating at 'B' with a stable outlook. Belarus Eurobond rating has also been affirmed at ‘B’, BelTA learned from the Finance Ministry.

Belarus' rating reflects improved macroeconomic stability, high income per capita, prudent fiscal policy and a clean debt repayment record.

At the same time Fitch Ratings points to weak growth prospects, government debt highly exposed to foreign currency risks, low foreign exchange reserves and a weak banking sector.

According to the agency, the fiscal and monetary policy pursued by Belarus will allow preserving macroeconomic stability and managing refinancing risks on debt payments  despite the significant impact of the COVID-19 pandemic.

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